Business transformation is a significant part of
organizational development. One of the most important rules for any business to
remain successful is to reinvent themselves and adapt to changes on a
continuous basis. Companies that understand this rule always remain on the
competitive side by changing themselves according to the market scenario. In
this, the people, process and technology are aligned in a way to meet the
business vision and objectives. A change in the business model can be required
because of many reasons. They could be emergence of digital technology that
needs to be incorporated into business, social engagement and more efficient
ways of computing. This change management strategy aims in adopting new and
innovative strategies.
Group50 a leading business transformation consulting firm, follows
the practice which elevates the transformation game with experienced business
transformation experts and IT consulting capabilities to speed implementation
and value realization for their clients. Their engagement begins with an
assessment, followed by more in depth workshops and project management to guide
and drive implementation. They optimize operations, leverage innovation
enabling technologies, and elevate the transformed process with embedded
analytics and new innovative capabilities including artificial and or cognitive
intelligence.
Business transformation
can be categorized into two forms mainly:
Operational transformation
For this type of transformation, different ways of digital
technology are utilized for bringing in operational efficiency. The processes
are operated at a better, faster and cheaper pace.
Strategic
transformation
In this strategic transformation, all the existing strategies
are modified or completely changed and the newer ones are adopted. It is about
changing the core or essence of the businesses.
It is commonly seen that middle market companies face many of
the same challenges as large domestic and global companies driven to
significantly change their business model. Businesses need to adapt more
innovative ways to improve employee experiences, provide better customer
service, increase revenue and higher market share. With business transformation, all the
processes get streamlined and organizations become more agile in adapting the
changes in an easy and quick manner. The processes and activities are modified
in order to meet the new business objectives. Unlike their larger competitors,
middle market companies lack in resources for effectively planning and making
business transformation changes. In such scenarios, they need to:
·
Re-invent and
simplify business processes to remove complexity and uncover new efficiencies.
·
Improve business
performance with data driven insights.
·
Infuse speed of
execution and increase organizational agility to respond quickly to new
opportunities and competitive threats.
·
Leverage new
models of computing (cloud, software as a service, platform business services
such as ERP, MRP, HRIS, CRM, etc.) to reduce cost of operations which are
non-core to the business. The end result is to free up capital and human
resources to focus on core aspects of the company to drive growth and
profitability.
Business transformation consulting services can surely help
businesses carry out this strategy. They act as the management’s helpline and
can provide valuable advice to the top and middle management of the
organization. Business transformation is not a one-time process instead it is
an ongoing process. Of course the consultants can start the ball rolling but
after then it is the responsibility of the management and the company’s
workforce to keep the pace and carry out the process successfully till the end.
These consultants would bring a diverse set of experience and a higher level of
skill set on board. They have carried out such projects before also and
understand what it requires to make the process effective and successful. This
is definitely one of the major reasons why companies seek business
transformation consulting services.
To utilize your resources to the optimum level and taking
your organization towards the road of business transformation, consult a
renowned firm like Group50. They focus on various areas of business
transformation and utilize over 50 assessments and workshops designed to
provide a client’s leadership team with the appropriate insights to how their
business operates and identifies the opportunities to significantly improve
business performance. Their consultants have the resources and skills set that
will enable them to make the entire transformation journey with their
clients.
For more information, talk to a Group50’s Business
Transformation expert today!
